New legislation will help prevent superannuation assets from being hidden during divorce proceedings. From 1 April 2022, the Australian Taxation Office (ATO) will be able to release details of an individual’s superannuation information to a family law court. The recently enacted laws are designed to ensure that there is procedural and economic fairness in divorce …
On average, women earn 14.2% less than men based on full-time earnings. If you take overtime into account, the gap is 16.8%. When part-time work is taken into account, this figure blows out to 31.3%. And, the COVID-19 pandemic has only worsened the pay gap. Given that 93% of all primary carer leave is taken …
Overview of COVID-19 Business Support Package State Governments provide business support, while the Commonwealth provides individual income-support COVID-19 Business Grants One-off grants: – Tier 1: $7,500, for turnover decline of at least 30% – Tier 2: $10,500, for turnover decline of at least 50%; or – Tier 3: $15,000, for turnover decline of at least …
The NSW and Federal Governments have released measures to support businesses during extended lockdowns of four weeks or more. Up to $100,000 in weekly JobSaver cashflow support payments Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program NSW micro-business grants NSW payroll tax deferrals and a 25% payroll tax waiver NSW sector …
Is your business adversely impacted by NSW lockdowns? Read More »
If you have been personally impacted by lockdowns and the related restrictions, there are now two COVID-19 payments accessible to individuals: the COVID-19 Disaster Payment; and, the Pandemic Leave Disaster Payment. Here we’ll provide you with some details about each and the eligibility criteria. How to apply for support You can apply for the …
CLICK HERE to read the Acumon Connect Winter 2021 Newsletter In this issue: Help with lockdowns Support for NSW businesses Congratulations of achievements The economic impact of COVID Recipe – Nutella Mug Cake SMSF’s issues & opportunities
If you can’t work because you or someone in your household is impacted by COVID-19, support is available. There are two payments accessible to individuals: the COVID-19 Disaster Payment; and, the Pandemic Leave Disaster Payment. How to apply for support You can apply for the COVID-19 Disaster Payment and the Pandemic Leave Payment through your …
What household COVID-19 lockdown support is available? Read More »
If your business has been adversely impacted by the recent lockdown in NSW, support is coming. The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more. Up to $15,000 through the expanded NSW 2021 COVID-19 business grants program Up to $10,000 cashflow …
What COVID-19 lockdown support is available to business? Read More »
On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone gets an automatic pay increase, this will depend on your employment …
If you worked from home during lockdown and spent money on work related items that were not reimbursed by your business, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed. The ATO has stated that it is looking very closely at work …
‘Work From Home’ Deductions: ATO looking for valid expenses Read More »